HB 1172 Summary

• Establishes a clean energy and energy efficiency revolving loan fund administered by the Hawaii Green Infrastructure Authority to provide low-cost loans for clean energy technology, electric vehicles, and charging infrastructure investments.

• Repeals the building energy efficiency revolving loan fund and consolidates its functions into the new revolving loan fund.

• Expands the $50,000,000 sub-fund within the green infrastructure special fund to allow state agencies to finance purchase options under existing energy performance contracts and power purchase agreements, with savings available for electric vehicle leasing and charging system installation.

• Appropriates $50,000,000 from the clean energy and energy efficiency revolving loan fund for fiscal year 2021-2022 to provide loans and financial assistance for eligible borrowers.

• Transfers administration of the motion picture, digital media, and film production income tax credit from the Department of Business, Economic Development, and Tourism to the Hawaii Green Infrastructure Authority.